Tractor Supply (NASDAQ:TSCO) Issues FY24 Earnings Guidance

Tractor Supply (NASDAQ:TSCO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $9.85-10.50 for the period, compared to the consensus estimate of $10.24. The company issued revenue guidance of $14.7-15.1 billion, compared to the consensus revenue estimate of $14.99 billion. Tractor Supply also updated its FY 2024 guidance to 9.850-10.500 EPS.

Tractor Supply Trading Up 0.8 %

NASDAQ:TSCO opened at $258.13 on Thursday. The business’s 50-day moving average is $251.14 and its two-hundred day moving average is $225.83. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.28. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $268.02. The firm has a market capitalization of $27.86 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 3.84 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 EPS for the quarter, beating the consensus estimate of $2.22 by $0.06. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period last year, the company posted $2.43 earnings per share. The firm’s revenue was down 8.6% compared to the same quarter last year. Research analysts predict that Tractor Supply will post 10.2 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.70%. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, February 23rd. Tractor Supply’s payout ratio is presently 43.61%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSCO. UBS Group lifted their target price on Tractor Supply from $220.00 to $240.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. Mizuho started coverage on Tractor Supply in a research note on Tuesday, March 19th. They issued a neutral rating and a $245.00 target price for the company. Truist Financial lifted their target price on Tractor Supply from $256.00 to $277.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Benchmark restated a buy rating and issued a $256.00 target price on shares of Tractor Supply in a research note on Monday. Finally, Raymond James downgraded Tractor Supply from a strong-buy rating to an outperform rating and lifted their target price for the company from $230.00 to $250.00 in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tractor Supply has an average rating of Hold and an average price target of $241.65.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares of the company’s stock, valued at $5,314,246. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Colin Yankee sold 8,675 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the transaction, the executive vice president now directly owns 9,673 shares in the company, valued at approximately $2,418,250. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares in the company, valued at $5,314,246. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,090 shares of company stock valued at $21,201,877. Corporate insiders own 0.24% of the company’s stock.

Tractor Supply Company Profile

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.